Disposed

Xerox Modicorp Ltd. v. the State of Maharashtra and Ors.

Bombay HC5 Oct 2010APPLN/2645/2008

Case brief

AI extract

What is this about?

The High Court sanctioned the deferment of the applicant's frozen bank amounts upon furnishing an interim bank guarantee, protecting the interest of the complainant while a 'C' summary application remained pending before the subordinate court.

What did the court decide?

Release of bank accounts upon furnishing a bank guarantee for Rs. 33,41,892/- renewable until 'C' summary application is disposed of.

Xerox Modicorp Ltd. Vs the State of… — Civil Procedure and Limitation | Bombay HC (2010)

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cr appln 2645-08.doc

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RMA

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION

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CRI. APPLICATION NO. 2645 OF 2008

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Xerox Modicorp Ltd

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.. Applicant

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Vs

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State of Maharashtra & Ors.. Respondent

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Ms. Mallika Ingale i/b Mr. Tushar V. Shah & Ms. Nirmala K.
Vyas for the Applicant

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Ms. Rujuta V. Pradhan i/b Mr. A.M. Chimalkar for Respondent
no. 6

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Ms. M.M. Deshmukh, APP for the State

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Mr. Suhas Patil, PI, EOW, Mumbai.

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CORAM : SMT. V.K. TAHILRAMANI, J

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DATE : 5th OCTOBER, 2010.

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P.C.:

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1. Heard learned advocate for the applicant, learned counsel for respondent no. 6-original complainant and learned APP for the State.

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2. The applicant has prayed for defreezing of its two bank accounts i.e 1206192 and 1206036 in Citibank.

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3. There was some dispute between respondent no. 2 and respondent no. 6. According to respondent no. 6, respondent nos. 3 to 5 and the present applicant were hand in gloves with respondent no. 2, hence, FIR came to be lodged by respondent no. 6 against the officer of the applicant for offences under Sections 406, 408, 420, 120B

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cr appln 2645-08.doc

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read with 34 of IPC. The said case is numbered as
2/Summary/2010 and it is pending before the learned Addl.
Metropolitan Magistrate, 19th Court, Mumbai. During the
course of investigation, the bank accounts of the
applicant in Citibank i.e account nos. 1206192 and 1206036
came to be frozen by the investigating agency i.e Senior
Inspector of Police, EOW, CBCID, Mumbai. At the relevant
time, a total amount of Rs. 33,41,892/- was in both the
bank accounts.

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4.The applicant preferred an application before the learned
Magistrate for release of the bank accounts. The said
application came to be rejected. The said order was
challenged before the Sessions Court. The Sessions Court
by order dated 1st March 2007, rejected the said CRA,
hence, this application.

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5.The learned APP on instructions states that the police
have investigated the matter and in the said case, the
police have filed an application for grant of "C" summary
before the learned Addl. Metropolitan Magistrate. The
learned APP has tendered the report which is taken on
record. In view of the fact that the police have prima
facie come to the conclusion that no case is made out
against the applicant, I am inclined to release the bank
accounts. However, the application for grant of 'C'
summary is pending before the learned Magistrate. The

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cr appln 2645-08.doc

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application for grant of "C" summary has not yet been
granted. Obviously, the complainant would have to be
heard in the matter before "C" summary is granted.
Moreover, the learned Magistrate may or may not grant the
application for "C" summary, hence, I am of the opinion
that to safeguard the interest of the complainant, the
bank account nos. 1206192 and 1206036 in Citibank be de-
frozen on the applicant furnishing a bank guarantee for
the amount of Rs. 33,41,892/-. The bank guarantee shall
be furnished before the trial Court. The bank guarantee
shall be renewed from time to time till the application
for "C" Summary is disposed of. The learned Magistrate on
disposal of the application for "C" Summary, shall pass
appropriate orders in respect of the bank guarantee.

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6. The application is disposed of in above terms.

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[SMT. V.K. TAHILRAMANI, J.]

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cr appln 2645-08.doc

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Xerox Modicorp Ltd. v. the State of Maharashtra and Ors.

Case brief

What is this about?

What did the court decide?

Xerox Modicorp Ltd. v. the State of Maharashtra and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

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